The contract will be financially settled based on the settlement prices of the underlying NYMEX Europe Brent crude oil futures contract, with the last trading date and final settlement one business day prior to the termination date of the underlying Brent crude oil futures contract.
The contract will be offered for trading for three consecutive months. It will be one-half the size of the floor traded contracts, or 500 barrels. The tick size will be $0.025 or $12.50 per contract. The trading symbol is QB, and fees will be $0.30 per contract half turn.
The first contract month listed for trading will be the March 2006 futures contract, and the second and third contract months offered will be April 2006 and May 2006. The third nearby contract month will be listed for trading on the business day following the expiration of the first contract month. Accordingly, once the March 2006 contract expires on February 10, the June 2006 contract will be listed for trading on the following business day.
